Biz Brief: TARP Repayments Surpass Outstanding Loans

In its May Troubled Asset Relief Program report to Congress, the U.S. Treasury Department said that TARP repayments to taxpayers have surpassed the total amount of TARP funds outstanding for the first time.

"Treasury's report showed that, through the end of the May, TARP repayments had reached a total of $194 billion, which exceeded the total amount of TARP funds outstanding ($190 billion) by $4 billion."

"The overall projected cost of the TARP program has declined dramatically as repayments to taxpayers continued to exceed expectations. In May, Treasury notified Congress that the projected lifetime cost of TARP has decreased by $11.4 billion to $105.4 billion since the FY 2011 President's Budget."